Sunil Shetty Forays Into Fitness Space
Sunil Shetty, a renowned Bollywood actor has picked up a minority stake in online fitness community, Squats, at a valuation of INR. 350 crore. Squats was launched in January 2016, as a Facebook community, to address challenges in the fitness domain.
Squats claims to have over 70,000 fitness transformers, and a highly engaged community of 5 lakh members. As per sources, Squats would use the funds to enhance its technological framework, strengthen its team and also expand operations pan India.
Sunil Shetty said that there has been a lot of false information about fitness these days. There is a critical need for companies like Squats, which would address the issues of trust and credibility in the Indian fitness space, focusing on balanced quantified nutrition with weight training. He said that he truly believes in the vision and approach of its founding team, and its future growth potential as India’s fitness brand.
In the last few days, there has been an increasing trend of celebrities investing in startups. Last week, Jennifer Lopez, Alex Rodriguez, and Malaika Arora invested in a fitness brand SARVA. With more and more people coming in the fitness sector, chances are high that India becomes fitter day by day. However, these firms should make sure that fitness as a coined term is distributed uniformly across the country.